Help for Our Clients During the Government Shutdown

Help may be available to you if you’re an employee or contractor of the federal government, if you receive certain federal benefits, or if you are a member of the military. If you’re experiencing delays in receiving your paycheck, you may be eligible for fee waivers and/or credit card and loan payment assistance programs.

• Everyday Banking: Your KeyBank checking, savings, and digital banking services remain fully operational. The Federal Reserve is expected to continue to function normally, ensuring uninterrupted check clearing, wire transfers, and foreign currency processing.
   
• Deposit Insurance: Your deposits continue to remain safe and insured by the FDIC, just as they are during normal government operations. The FDIC insures deposits up to the standard insurance amount, providing you with the same protection and security.
   
• Social Security Payments: Social Security payments are expected to continue without interruption.
   

• Social Security Claims: New claims and card issuance may be delayed until the shutdown ends. If you have any questions, please visit the Social Security Administrations website.
   
• Lending:
  Mortgages and Home Lending:
  • Delays in Loan Processing: Many mortgage loans require documentation, verification, or services from federal agencies such as the IRS, FHA, VA, or Social Security Administration. If these agencies are closed or operating with limited staff, there may be delays in obtaining transcripts, verifications, or approvals.
     
  • Federal Employee Income Verification: If you are a federal employee or rely on income from federal sources, the ability to verify your employment or income may be affected.
     
  • Flood Insurance: The National Flood Insurance Program's temporary closure may delay mortgage originations for properties in flood zones. We're working closely with affected clients to minimize these disruptions.
     
• Small Business: SBA loan approvals will be suspended during the shutdown. However, our SBA Credit and Closing Teams will continue to underwrite and process your SBA loans and will be ready to finalize them as soon as the government resumes operations. Please contact your SBA Specialist for any loan in process. The SBA website is also available for more information.
   
• Student Loans: Please contact the following agencies with specific questions or for more information.
  U.S. Department of Education
  Federal Student Aid